There are many benefits to interest-only
mortgage loans. There are many situations where
an interest-only mortgage loan could be best for
you.

Here are some of the situations where an
interest only mortgage loan
might be beneficial
to you:

If you are in a situation where your income
is sporadic and would rather have the option of
paying as little as possible sometimes and then
paying larger amounts when there is more income,
for example where most of your income is
commission-based.

If you are investing your mortgage payment
savings in something else that is low risk, and
has a much higher return on your money than your
house payment.

If you are temporarily in a situation where
your income will be low for a while but then
increase later on.

If your mortgage is only temporary, for
example, an investor looking to flip a property
or someone who is working on a home renovation
property. It would be good in any situation
where it would be in your best interest to keep
the payment low as opposed to creating equity in
the home.

How much can you save with an interest only
mortgage loan? For loan amounts under 500,000
you can usually save around 10% or more off of
your mortgage payment. However, that number can
vary depending on your individual situation.

An interest-only mortgage loan can be very
beneficial because it can help you save money on
your payment when there are other things that
you would like to invest your money in.

It also
gives you flexibility when your income is
sporadic and you need to make sure that you will
always be able to make your payment on time.

There are many lenders that can help you with an
interest only mortgage loan